Market Report Nov 23 2023

Wednesday saw the stock market exhibit lazy gains and notable highs in major indices leading into Thanksgiving.

The S&P 500 reached its highest point in over 3 months, while the Dow Jones Industrials also saw a similar peak in the same period. The Nasdaq 100 achieved its highest level in approximately 1.5 years.

Going into a trading holiday, we have numerous reasons to be thankful, both in the short and long term.
Notably, the Nasdaq, which experienced recent bullish momentum, has seen an impressive 11% increase in November alone and an exceptional YTD growth of 36.3%. Similarly, the S&P 500 has also performed robustly, rallying 8.65% in November and accumulating a total gain of 18.7% in 2023.

However, while we usually have a run-up to major holidays, post-holiday may not look as pretty with lower volume for a few days.

Happy Thanksgiving to those of you who celebrate this day.

Javid Shaik

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